Bank of Canada (BoC) Governor Tiff Macklem spoke at the Vancouver Board of Trade on Monday, spinning an expected drag on Canadian economic growth as a positive on the hopes that lagging growth at the nation-wide level could, in theory, limit a reignition in inflationary pressures.
Bank of Canada (BoC) Governor Tiff Macklem speaks on the policy outlook and responds to questions from the press after cutting the policy rate by 50 basis points to 3.25% following the December meeting.
A large consensus is that the Bank of Canada (BoC) is expected to cut interest rates another time by 50 basis points today, from 3.75% to 3.25%, Commerzbank’s FX analyst Antje Praefcke notes.
The Bank of Canada (BoC) announced on Wednesday that it lowered the policy rate by 50 basis points (bps) to 3.25% following the December meeting. This decision came in line with the market expectation.
The Bank of Canada (BoC) aligned with market expectations by implementing a 50-basis-point interest rate cut at its Wednesday meeting, lowering the policy rate from 4.25% to 3.75%.
As expected by market participants, the Bank of Canada (BoC) implemented a third consecutive 25 basis points interest rate cut at its monetary policy meeting on Wednesday, reducing its policy rate from 4.50% to 4.25%.
In line with market consensus, the Bank of Canada (BoC) delivered a back-to-back 25 bps interest rate cut, taking its policy rate to 4.50% (from 4.75%) at its monetary policy meeting on Wednesday.
The Bank of Canada (BoC) is the nation's central bank. Its principal role, as defined in the Bank of Canada Act, is "to promote the economic and financial welfare of Canada." The bank’s responsibilities are divided into four main areas:
The Bank of Canada (BoC) sets interest rates and manages monetary policy at eight scheduled meetings a year and ad hoc emergency meetings that are held as required. The BoC’s primary mandate is to maintain price stability, which means keeping inflation at between 1-3%. Its main tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Canadian Dollar (CAD) and vice versa. Other tools used include quantitative easing and tightening.
The official website, on X and YouTube
Tiff Macklem was born in Montréal, Quebec, in 1961. He was appointed Governor of the Bank of Canada, effective 3 June 2020, for a seven-year term. He is the tenth governor of the Bank of Canada. As Governor, he is also Chairman of the Board of Directors of the Bank for International Settlements (BIS). He currently chairs both, the BIS Audit Committee and the Consultative Council for the Americas.
Macklem on his BOC's profile and Wikipedia
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.